Tag Archives: Creating Globally Applicable Best Practices in Blockchain Technology in Russia for IP Management: From Patents and Inventions to Books

Deadly Buda’s Musicoin address to VI St. Petersburg International Cultural Forum

Musicon Ambassador Joel “DJ Deadly Buda” Bevacqua addressed the Intellectual Property and Blockchain discussion panel: “Creating Globally Applicable Best Practices in Blockchain Technology in Russia for IP Management: from Patents and Inventions to Books, Paintings, Photos, Music and Films” held at the VI St. Petersburg International Cultural Forum. Below is the video of the address, the text of the speech, displayed slides, and the hand-out text mentioned in the address.

Here is the text from the speech:

“Hello, my name is Joel Bevacqua. Some know me as DJ Deadly Buda. I am the Musician Ambassador for Musicoin. We are honored to be invited to the Cultural Forum and especially by IPChain, which we believe could not only benefit Russia, but might shine as an example worldwide about the possibilities of blockchain and its utilization to aid human creativity.

We sincerely hope that one day, younger people in the audience will look back to this panel as a day that the world took a step in a good direction.

So, what is Musicoin?

Musicoin is a digital currency for the listening and compensation of music. On February 11, 2017, artists could upload their songs to Musicoin.org . When listeners played a song, they paid the artist 1 Musicoin. This payment happened in seconds. 1 Musicoin was worth at the time between 1 and 4 cents in US dollars. The artist could save that Musicoin in hopes it would rise in value, or sell it on and exchange for the currency of his or her choice. This was all achieved with the Musicoin blockchain.

Musicoin Presentation Slide 1
Musicoin Presentation Slide 1

This was a success, but we noticed a problem. As Musicoins rose in value, people played less music. So, we made a change to the Musicoin blockchain which we code-named “U.B.I.” for “Universal Basic Income.”

In this change, the artist still receives 100% of the income, but now 1 play is equivalent to an amount of Musicoin equal to about 2 cents in US dollars.

Musicoin Presentation Slide 2
Musicoin Presentation Slide 2

Also, listening for the public is now free. It is paid for by Musicoin miners. Miners are people with computers that process Musicoin transactions and mint the coins. A part of their mining reward creates the fund for free listening. The miners hope this leads to greater adoption and the Musicoins they retain becoming more valuable.

Through UBI, free listening become the human intelligence of the system and makes many traditional concerns about music piracy irrelevant.

Some might call what we’ve done, “disruptive”, but we feel it is constructive and ultimately an aid to the human imagination. In that spirit, a forthcoming update will allow consent-based location data to be entered in the Musicoin blockchain. This way, an artist might indicate where their payments may go.

Musicoin Presentation Slide 3
Musicoin Presentation Slide 3

If their song is played in Russia, RAO may process some funds, if played in Canada, SOCAN could process certain payments. Theoretically, public domain works could pay its citizen in near real-time.

The possibilities are many and are being realized now. Mobile and software players are expected soon, and even dedicated hardware players are expected within the next year.

I am having a fact sheet about Musicoin passed out. Please contact me after the panel if you are interested in interfacing with the Musicoin blockchain and I will help facilitate it.”

Below is the text from the hand-out mentioned in the speech.


Musicoin Logo With Tagline

Important Facts:

February 11, 2017, Musicoin becomes the first blockchain-enabled streaming music system in which artists can upload music, the global public can listen, and when they do, the artists are paid in seconds.

You can listen to streaming music at http://musicoin.org . The rights-holder is rewarded with Musicoin.

Musicoin has over 19,000 registered users. 1,500+ are musicians who have uploaded over 7000 tracks.

The price of a Musicoin has gone as high as 4.6 cents USD each. Musicoin’s exchange symbol is: MUSIC.

How it Works:

Every time a song is played the copyright holder is paid an amount of Musicoin equivalent to about $0.02 USD. This amount can fluctuate based on market demand and can be raised or lowered to compete with other online streaming services. The copyright holder receives Musicoin seconds after a listener presses “play” anywhere in the Musicoin system. Once the copyright holder receives the Musicoin, he, she, or it can elect to split the payment with others if needed.

Musicoins are created by people all over the world with personal computers. The process is called “mining.” The computers validate and process Musicoin transactions and are rewarded with Musicoins. 15% of Musicoins mined are allocated to fund the playing of music by the public. Musicians, miners and the public can sell their Musicoin on exchanges for the currency of their choice or use them to transact with one another.

Future Plans:

Easy purchase of Musicoins for the public (a cryptocurrency exchange will no longer be necessary).

Consent-based location data will be available from the Musicoin blockchain.

Mobile apps will be available soon. Embedded hardware platform expected late 2018.

FAQ

What kind of blockchain is Musicoin? Musicoin is its own blockchain, based on Ethereum code. By using its own blockchain, Musicoin can better scale with the increasing demands of music consumption.

How would my blockchain system communicate with Musicoin? Like Ethereum, ERC-20 tokens can be utilized to easily communicate with other blockchains.

Russia’s IPChain to work with Musicoin?

November 18, 2017, St. Petersburg, Russia,

This year’s VI Saint Petersburg International Cultural Forum might hold a surprise for the future, an intellectual property blockchain, Musicoin, operating with a national market. This possibility was raised at the culmination of the business panel, “Creating Globally Applicable Best Practices in Blockchain Technology in Russia for IP Management: From Patents and Inventions to Books, Paintings, Photos, Music and Films.”

The hour-long panel was held by IPChain (the National Coordination Center for Processing Transactions with Rights and Objects of Intellectual Property), whose ambitious task is the formation of a national blockchain-based network of Russian intellectual property objects, their associated rights, transaction records, and the facilitation of such transactions.

“The creation of a decentralized IPChain network is a necessary and indispensable stage in the development of the national intellectual property sphere,” said Andrey Krichevsky, president of IPChain. “However, when speaking about practical steps, it is important to remember that, despite the seminal nature of today’s steps to reform the sphere, we must constantly be on the move. After all, the trend of the current day – blockchain – will be replaced by newer and newer technologies and solutions. Our task is to monitor the strategic vector of global development, to foresee and anticipate technological shifts. ”

Musicoin Ambassador Joel Bevacqua addresses the St. Petersburg International Cultural Forum
Musicoin Ambassador Joel Bevacqua addresses the St. Petersburg International Cultural Forum

In that context, panelists who contributed their solutions and viewpoints were: The Unified State System for Accounting for Research, Development and Technological Works of Civil Purpose (the state service is already one of the key components of the IPChain infrastructure), The National Register of Intellectual Property, which participates in a project initiated by the Ministry of Education and Science of the Russian Federation to create a system for storing and comparing three-dimensional models, and FormMax, a business to business solution for delivering background music,

The participants also included a number of services that could potentially use the IPChain infrastructure such as IP EXCHANGE (IPEX), an online platform that ensures the regular functioning of the organized market of intellectual property, artists societies worldwide, and the world’s first music streaming blockchain service, Musicoin.

Panelists from left, Eric Baptiste (SOCAN), Andrey Krichevsky (IPChain), Sergey Matveyev (Director of the Department of Science and Technologies of the Ministry of Education of the Russian Federation)
Panelists from left, Eric Baptiste (SOCAN), Andrey Krichevsky (IPChain), Sergey Matveyev (Director of the Department of Science and Technologies of the Ministry of Education of the Russian Federation)

Though intellectual property forums tend to be sedate, this panel had its share of barely suppressed fireworks. Ivan Zasurskiy, Head of the Department of New Media and Communication Theory, Journalism Faculty of Moscow State University, referred to lawyers in the field as leeches, attorney Pavel Katkov wondered aloud if blockchain smart contracts might relegate lawyers to a secondary role in intellectual property management, and Joel Bevacqua, the ambassador for the Musicoin blockchain pointed out to the younger members of the audience that the panel they were witnessing might one day be a watershed moment in their lives.

The Russian Federation’s IPChain ended the panel with another sign that Russia intends to be a world leader in blockchain technology, as official signing agreements on strategic cooperation took place. IPChain and the largest company in the market of licensed electronic books in Russia, LitRes, signed an agreement on cooperation and interaction, and then IPChain and BankPrav.ru service – “AyBi” LLC, signed an agreement on establishing partnership relations and developing long-term mutually beneficial cooperation for the registration and monetization of intellectual property and increasing the transparency of intellectual property transactions for all market participants.

Joel Bevacqua, Musicoin Ambassador (and The Hard Data Editor) arrives at the VI St. Petersburg International Cultural Forum's IP & Blockchain Panel
Joel Bevacqua, Musicoin Ambassador (and The Hard Data Editor) arrives at the VI St. Petersburg International Cultural Forum’s IP & Blockchain Panel

At the very end came the surprise, as IPChain’s head Andrey Krichevsky, announced IPChain’s intention to open discussions with SOCAN and Musicoin on possible cooperation pacts. Musicoin’s ambassador, Joel Bevacqua, was seen giving a “thumbs up” to the audience. How this plays out, the world will have to see, but the announcement could signify another significant step for music fans and artists not just in Russia, but the world.